Minneslate Logo

SF2886 (Legislative Session 94 (2025-2026))

Metropolitan Council transportation services financial reporting requirements consolidation and modification

Related bill: HF2204

AI Generated Summary

Purpose of the Bill

The bill aims to consolidate and adjust how financial reporting is done for transportation services by the Metropolitan Council. The goal is to improve consistency and transparency in budgeting and financial reviews related to transportation.

Main Provisions

  • Budget Preparation and Ad Valorem Tax Levies: The Metropolitan Council must finalize its budget by December 20 each year, detailing anticipated receipts, disbursements, and necessary ad valorem tax levies. The budget must list expenditures for various programs, including operational costs and capital expenditures following a five-year plan.

  • Financial Plan for Transit Programs: Every even-numbered year, the council is required to prepare a financial plan for its transit programs spanning three calendar years, broken into half-year segments. This plan includes expected user charges and state financial assistance requests.

  • Annual Financial Review: By January 15 each year, the council will submit a financial review detailing the revenue and expenditures of transportation programs using state fiscal years. This includes actual and budgeted amounts, transfers, and reserves.

  • Financial Review Update: Another detailed financial update must be submitted by August 15, comparing budgeted versus actual revenues and expenditures for the recent budget year, highlighting discrepancies.

  • Categorized Financial Information: The financial reviews should break down revenues and expenditures by transportation funding sources, and operational budget categories such as bus, light rail, commuter rail, and special transportation services.

Significant Changes to Existing Law

  • Modification of Reporting Requirements: The bill introduces changes to existing statutes to enhance the clarity and detail of financial reporting, aiming to make the council's financial operations more transparent.

  • Repeal of Section 473.452: As part of this consolidation, the bill repeals a statute considered outdated or redundant concerning the Metropolitan Council’s financial reporting framework.

Relevant Terms

  • Metropolitan Council
  • Ad Valorem Tax
  • Financial Review
  • Budget Preparation
  • Transportation Services
  • Revenue and Expenditures
  • State Financial Assistance
  • Capital Expenditures

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 23, 2025SenateFloorActionIntroduction and first reading
March 23, 2025SenateFloorActionIntroduction and first reading
March 23, 2025SenateFloorActionReferred toTransportation

Citations

 
[
  {
    "analysis": {
      "added": [
        "Financial plan for transit programs covering three calendar years in half-year segments."
      ],
      "removed": [],
      "summary": "The bill amends the budgeting and financial planning requirements for the Metropolitan Council under section 473.13.",
      "modified": []
    },
    "citation": "473.13"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The amendment involves detailed breakdowns in financial reviews related to special transportation services.",
      "modified": []
    },
    "citation": "473.386"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The bill modifies reporting requirements for replacement service providers under section 473.388.",
      "modified": []
    },
    "citation": "473.388"
  }
]

Sponsors